Fmr LLC Buys 10,983 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

Fmr LLC raised its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 470.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,317 shares of the medical equipment provider’s stock after buying an additional 10,983 shares during the quarter. Fmr LLC’s holdings in BioLife Solutions were worth $333,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BLFS. D.A. Davidson & CO. purchased a new position in BioLife Solutions during the third quarter valued at approximately $1,018,000. The Manufacturers Life Insurance Company grew its position in shares of BioLife Solutions by 40.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider’s stock valued at $487,000 after purchasing an additional 5,638 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new position in shares of BioLife Solutions during the 3rd quarter valued at $467,000. Cerity Partners LLC increased its holdings in shares of BioLife Solutions by 6.6% in the third quarter. Cerity Partners LLC now owns 44,914 shares of the medical equipment provider’s stock worth $1,125,000 after purchasing an additional 2,776 shares during the period. Finally, Eagle Asset Management Inc. raised its position in shares of BioLife Solutions by 2.9% in the third quarter. Eagle Asset Management Inc. now owns 352,897 shares of the medical equipment provider’s stock worth $9,221,000 after buying an additional 10,091 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

BioLife Solutions Stock Up 4.9 %

Shares of NASDAQ BLFS opened at $27.39 on Friday. The stock has a market capitalization of $1.27 billion, a P/E ratio of -25.84 and a beta of 1.91. BioLife Solutions, Inc. has a one year low of $14.50 and a one year high of $28.88. The firm’s 50 day simple moving average is $24.86 and its two-hundred day simple moving average is $23.68. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78.

Insider Buying and Selling

In related news, EVP Aby J. Mathew sold 17,604 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $20.05, for a total transaction of $352,960.20. Following the completion of the sale, the executive vice president now directly owns 284,442 shares in the company, valued at $5,703,062.10. This represents a 5.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 64,259 shares of company stock worth $1,424,708 in the last 90 days. 2.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BLFS shares. TD Cowen boosted their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. KeyCorp boosted their price objective on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Craig Hallum upped their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of BioLife Solutions in a research report on Thursday. Finally, HC Wainwright cut their price target on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, Europe, the Middle East, Africa, and internationally. The company’s products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.